Transaction Fee
A transaction fee is a charge applied by a communication or money transfer provider each time a deposit or purchase is made.
What Is Transaction Fee?
A transaction fee is a charge applied by a communication or money transfer provider each time a deposit or purchase is made. Transaction fees at prison communication providers can range from $2.95 to $11.99 per transaction depending on the provider, payment method, and deposit amount. Mailed money orders typically have lower or no transaction fees compared to online or phone deposits. The FCC has regulated call rates but transaction fees on money transfers remain largely unregulated.
A family deposits $20 to their loved one's JPay account and is charged a $3.99 transaction fee, meaning $23.99 total leaves their account but only $20 reaches the inmate trust account.
Related Terms
Explore other glossary terms that are closely connected to this topic.
Money Transfer
A money transfer in the correctional system means sending funds to an incarcerated person's inmate account so they can use the balance for commissary purchases, phone calls, and other approved services.
FinanceJPay Stamps
JPay stamps are virtual credits used to send electronic messages through the JPay platform at state prison facilities.
FinanceMoneyGram
MoneyGram is a money transfer service used to send funds to federal Bureau of Prisons inmate trust accounts and to some state and county facility accounts.
People Also Ask
Related questions families often search for alongside this topic.
What is Money Transfer?
A money transfer in the correctional system means sending funds to an incarcerated person's inmate account so they can use the balance for commissary purchases, phone calls, and other approved services.
Read full definitionWhat is JPay Stamps?
JPay stamps are virtual credits used to send electronic messages through the JPay platform at state prison facilities.
Read full definitionWhat is MoneyGram?
MoneyGram is a money transfer service used to send funds to federal Bureau of Prisons inmate trust accounts and to some state and county facility accounts.
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